Introduction In charitable gifting, while doing good should always be the prime directive, a well-known adage is to “do well by doing good”! Traditional gifts of cash or property directly to qualified charitable organizations benefit the charity and also the donor by creating income tax deductions for them.1 Gifts can…
As appeared in “Tax Notes Today Federal,” April 16, 2023, by Erin McManus. The estate of a widow of a regional bank founder is challenging a $5.47 million estate tax deficiency arising from alleged additional unreported lifetime gifts and understated valuations, and from disallowed interest on loans to pay expenses. Carolyn…
A Practical Guide to Leverage Their Benefits and Avoid Potential Pitfalls 1031 Exchanges – A Primer 1031 exchanges are a powerful tool. For the savvy real estate investor, a 1031 exchange can reduce risk and increase diversification. In short, the investor can redeploy assets into other types/classes of real estate…
Those who have earned wealth through real estate will tell you it comes hard fought and is won deal by deal, zoning board by zoning board, tenant by tenant. Ultimately, as the net worth accumulates, it is likely to be highly concentrated in this single asset class – and you…
As readers of these Tax Alerts are aware, many tax proposals and “scares” emanate from Washington…
Ways & Means weighs in on Biden Tax Proposals, with significant changes.